Point72 Asset Management L.P. Invests $3.69 Million in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Point72 Asset Management L.P. purchased a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,502 shares of the company's stock, valued at approximately $3,690,000.

Several other large investors have also modified their holdings of EDU. Aspex Management HK Ltd grew its position in shares of New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock valued at $478,456,000 after purchasing an additional 2,701,566 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in New Oriental Education & Technology Group by 61.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock worth $249,952,000 after acquiring an additional 1,480,391 shares during the last quarter. JPMorgan Chase & Co. boosted its position in New Oriental Education & Technology Group by 175.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock worth $146,123,000 after acquiring an additional 1,449,979 shares during the last quarter. Norges Bank acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $92,345,000. Finally, FMR LLC boosted its position in New Oriental Education & Technology Group by 46.3% during the fourth quarter. FMR LLC now owns 4,539,678 shares of the company's stock worth $291,357,000 after acquiring an additional 1,437,656 shares during the last quarter.

New Oriental Education & Technology Group Trading Down 1.0%

Shares of EDU traded down $0.49 during mid-day trading on Friday, reaching $46.47. The company had a trading volume of 562,219 shares, compared to its average volume of 1,774,839. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 19.77 and a beta of 0.25. The firm has a fifty day simple moving average of $46.80 and a 200-day simple moving average of $52.75. New Oriental Education & Technology Group Inc. has a fifty-two week low of $40.66 and a fifty-two week high of $87.26.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the prior year, the business posted $0.63 EPS. The business's revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that New Oriental Education & Technology Group Inc. will post 2.75 EPS for the current fiscal year.

Analysts Set New Price Targets

EDU has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Citigroup lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Finally, China Renaissance lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of "Hold" and an average target price of $60.80.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.